Meticulous Research® has released a new report titled ‘Veterinary Rapid Diagnostic Tests Market by Product (Kits, Readers), Condition (Viral, Parasitic, Bacterial Infections), Animal (Companion [Dogs, Cats], Livestock), and End User (Clinics & Hospitals, Reference Labs, Home Testing) - Global Forecast to 2030.’

The report forecasts that the veterinary rapid diagnostic tests market will grow at a compound annual growth rate (CAGR) of 8.1% from 2023, reaching $1.10 billion by 2030. The market's expansion is driven by the increasing prevalence of zoonotic diseases, the benefits of rapid tests compared to other diagnostic methods, rising demand for at-home and farm testing, growing awareness of veterinary health, and increased global spending on animal health. Additionally, the surge in demand for animal-derived food products contributes to market growth.

However, the market faces challenges such as a lack of reimbursement options and continued reliance on traditional diagnostic methods. Despite these challenges, emerging markets and increasing pet ownership offer significant growth opportunities. Conversely, inadequate diagnostic infrastructure in developing countries and limited awareness among farmers about animal health are substantial obstacles.

Download Sample Report Now: https://www.meticulousresearch.com/download-sample-report/cp_id=5287

Market Segmentation and Outlook:
• Product: The rapid test kits segment is projected to hold the largest market share in 2023, driven by the high prevalence of diseases in both companion and livestock animals and a growing preference for at-home and farm testing.

• Condition: The viral diseases segment is expected to dominate the market in 2023, due to the high incidence of viral infections among animals and the potential for these viruses to cross species barriers.

• Animal Type: Companion animals are anticipated to account for the largest share of the market in 2023, attributed to the high prevalence of diseases in pets, a large pet population, and the availability of rapid tests for common conditions.

• End User: Veterinary hospitals and clinics are forecasted to represent the largest segment in 2023.

Geographic Insights:
The report provides a detailed analysis of the veterinary rapid diagnostic tests market across key regions, including North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, China, India, and Rest of Asia-Pacific), Latin America, and the Middle East & Africa. North America is expected to lead the market in 2023, followed by Europe and Asia-Pacific. The region's dominance is supported by advancements in veterinary diagnostics, increased awareness about animal disease diagnosis, a growing number of veterinarians, higher spending on animal healthcare, and a well-established healthcare system.

Quick Buy – Veterinary Rapid Diagnostic Tests Market- Global Opportunity Analysis and Industry Forecast (2023-2030), Research Report: https://www.meticulousresearch.com/Checkout/57666165

Key Players:
Notable companies operating in the veterinary rapid diagnostic tests market include IDEXX Laboratories, Inc. (U.S.), Zoetis Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Woodley Equipment Company Ltd. (U.K.), Virbac (France), Heska Corporation (U.S.), Biopanda Reagents Ltd (U.K.), Fassisi GmbH (Germany), MEGACOR Diagnostik GmbH (Austria), BioNote, Inc. (South Korea).

Contact Us:
Meticulous Research®
Email- [email protected]
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research